A guide to property planning for new immigrants in the United States

Many people will choose to immigrate to the United States, so how do new immigrants plan their property well? This is a problem that many people care about. Let's take a look at the real estate planning guide for new immigrants in the United States. Welcome to reading.

First, investment immigrants also need to file tax returns during the scheduling period.

Now, because of the long schedule, some investment immigrants are still starting companies, buying houses and buying wealth management products when they go through the formalities. Some new immigrants think that they are not tax residents and do not need to declare, but in fact they also need to declare taxes, just using the tax forms of non-tax residents.

During this period, the RMB continued to depreciate, and many new immigrants hoped to convert the RMB into US dollars for investment, so the US dollar income generated would be used by tax residents for tax returns. Some buy school district houses and rent them, and the rent needs to be taxed; Some new immigrants from China will start or buy companies in the United States. Although foreigners, foreigners can only be shareholders but not employees, so they should declare their share dividend income.

Second, it is very important to declare property in the first year of landing in the United States.

It is very important for new immigrants to declare their property in the first year. Before new immigrants become tax residents, it is best to make a tax plan for China assets in the United States and declare the original assets. The original assets themselves do not need to be taxed, and only when they are placed in the bank can they generate interest.

If you have paid taxes in China, you only need to make up the tax difference in the United States. For example, he said that when selling a house in China, you have to pay the capital gains tax, which is 20% in China, while in the United States, the first $400,000 is 15%, and if it exceeds this figure, you have to pay 23.8%. Therefore, if the capital gains are high, the tax difference of 3.8% will be made up.

Many new immigrants have only a vague concept of American tax law, which leads to many misunderstandings.

Third, the mismatch between asset declaration and income will also be investigated.

Some new immigrants from China came with assets of100000 USD. He knew that the declared assets did not need to be taxed, so he borrowed $40 million and deposited it in the bank account. In fact, he only has $6,543,800,000, hoping to count his future income as an asset. However, the probability of being audited by the IRS has increased, because the IRS believes that his assets are $50 million, not $654.38+million. But, therefore, knowing that 50 million yuan has been in the account for a short time, I declare a lot of assets, but the income is very small, and the mismatch between assets and income will also be taxed.

Almost all the new immigrants in China donated assets.

In addition, those who fail to declare their assets in the first year will be given every year thereafter. In the second year, they want to buy a house, saying that their mother gave them 2 million, and in the third year, they said that their brother gave them 2 million. Giving them money is also easy to be taxed, because few people send money to each other in the United States.

Almost every new immigrant has a gift, and some people have a gift every year. It doesn't matter if it is really a gift, but some people actually have their own money and just don't want others to know, so if they do this, they will pay a fine if they are found by the IRS.

Some retired people in China are also part of the new immigrants. Ho Lee said that new immigrants who retire to the United States only need to pay income tax when they get their pension, but because the pension is very low, it generally does not exceed 1 10,000 dollars, while the tax deduction for everyone in the United States is 4,050 dollars, so they don't have to pay taxes, but they must declare to avoid fines.

5. If you have not declared your assets, you can participate in the surrender plan.

What if I miss the opportunity to declare my assets in the first year? Such taxpayers can participate in the voluntary surrender plan, and the fine can be reduced from 50% to 5%, but they must surrender before the national tax is found, not after it is found.

In fact, the tax is not high, but the fine is very high, and every little makes a mickle is terrible. The most common thing for new immigrants is to listen to friends' advice rather than accountants' advice. Some friends give good advice without knowing their income and assets, but they won't help pay the fine, so taxpayers can only pay it themselves.